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Italy cancels bond auctions due to reduced funding needs

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(Globalpost/GlobalPost)

ROME (Reuters) - The Italian Treasury said on Thursday that it was cancelling two scheduled bond auctions in the next few weeks due to a lack of funding requirements.

The Treasury said in a statement it would not be holding an auction of bonds linked to euro-zone inflation (BTPEIs) slated for November 26, or an auction of medium- and long-term bonds that was planned on December 12.

The auctions were canceled due to "the satisfactory level of the cash position and reduced funding needs," the Treasury said. It added that the upcoming auctions of Treasury bills (BOTs) would go ahead as scheduled.

(Reporting By Gavin Jones)

http://www.globalpost.com/dispatch/news/thomson-reuters/131121/italy-cancels-bond-auctions-due-reduced-funding-needs